The Securities and Exchange Commission (SEC) has asked the Office of Management and Budget (OMB) for an extension to collect information related to Rule 30b1-8 and Form N-CR. This rule requires money market funds to report important events to the SEC, which helps them oversee these funds and keep investors informed. The reporting process is estimated to take about 8.5 hours and cost $1018.5 per report, with six reports expected annually. Public comments on this information collection are invited and should be submitted within 30 days of the notice's publication.
Simple Explanation
The SEC wants to keep an eye on money market funds by having them tell about important things that happen. They asked another group if they can keep doing this, and they think it takes a bit of time and money to do the reports. They want people to say what they think before a month is up!